Pound Sterling Price News and Forecast: GBP/USD consolidates weekly losses after refreshing multi-day low

FXStreet Team FXStreet

GBP/USD stays defensive above 1.2400 as BoE hawks hesitate, focus on Fed Chair Powell

GBP/USD licks its wounds near 1.2410 as it benefits from the market’s consolidation ahead of the key events. That said, the Pound Sterling dropped to the lowest levels in three weeks the previous day amid broad US Dollar strength. Also weighing on the Cable pair was the Bank of England (BoE) Officials’ inability to defend the hawkish moves amid fears of tighter monetary policy’s negative economic impacts.

On Thursday, top-tier BoE officials faced questions by the UK parliament's Treasury Select Committee (TSC) about the central bank's sales of bonds bought under its quantitative easing programme. Among them was BoE Governor Andrew Bailey, Deputy Governor Dave Ramsden and Deputy Governor Ben Broadbent. If we closely examine their statements, all of them defends the Quantitative Tightening (QT) but fails to suggest more moves in that directions while fearing economic consequences. Read more...

GBP/USD Price Analysis: Bulls are lurking in demand area

In the prior analysis, GBP/USD Price Analysis: Bears are moving in on the risk rally, it was explained that the M-formation was explained to be a topping pattern that had formed as the potential for the final stage of the prior bullish rall.

The price was on the backside of that trendline where traders were anticipated to trade on the short side. Read more...

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FXStreet Team

FXStreet

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD: Pound Sterling ticks up against US Dollar in countdown to US NFP

The Pound Sterling trades marginally higher to near 1.3365 against the US Dollar during the Asian trading session on Friday. The GBP/USD pair edges up as the US Dollar ticks down ahead of the United States Nonfarm Payrolls data for February, which will be published at 13:30 GMT.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.